If the Bank Records a Deposit of $800 as $80

question 166

Multiple Choice

If the bank records a deposit of $800 as $80, the error should be shown on a bank reconciliation as a(n) :

• A) deduction from the book balance of $880.
• B) deduction from the bank balance of $880.
• C) addition to the bank balance of $720.
• D) addition to the book balance of $720.

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Definitions:

Level of Significance

A threshold in statistical hypothesis testing below which a result is considered statistically significant.

Critical Value

A point on a statistical distribution that represents a threshold beyond which a given hypothesis is rejected.

P-value

The probability of obtaining the observed results of a test, assuming the null hypothesis is true.

Sample Sizes

The number of observations or datapoints used in a sample for the purpose of statistical analysis.